RegAlert
2015-12-29 | 47/POJK.04/2015

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POJK Regarding Guidelines for Daily Disclosure of Net Asset Value of Open-End Mutual Funds

Financial Services Authority Regulation No. 47/POJK.04/2015 mandates that custodian banks of open-end mutual funds calculate and disclose the daily Net Asset Value (NAV) per unit or share, along with investment returns for the last 30 days, one year, and real returns after fees. These calculations must be submitted to the regulator by 10:00 AM WIB on the next business day and published in at least one national Indonesian-language daily newspaper. The regulation defines specific investment constraints for money market, fixed income, equity, and mixed mutual funds and establishes administrative sanctions for non-compliance, while repealing the previous 2012 guidelines issued by the Capital Market Supervisory Agency.

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FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 47 /POJK.04/2015

CONCERNING

GUIDELINES FOR DAILY DISCLOSURE OF NET ASSET VALUE OF OPEN-END MUTUAL FUNDS

BY THE GRACE OF GOD THE ALMIGHTY

THE COMMISSIONERS COUNCIL OF THE FINANCIAL SERVICES AUTHORITY,

Considering:
a. that with the enactment of Law Number 21 of 2011 concerning the Financial Services Authority, since December 31, 2012, the regulation and supervision of financial services activities in the Capital Market sector, including the daily disclosure of the Net Asset Value of Open-End Mutual Funds, has shifted from the Capital Market Supervisory Agency and Financial Institutions to the Financial Services Authority; b. that in order to provide clarity and certainty regarding the regulation of the daily disclosure of the Net Asset Value of Open-End Mutual Funds, it is necessary to replace the regulations concerning the Guidelines for Daily Disclosure of Net Asset Value of Open-End Mutual Funds issued prior to the establishment of the Financial Services Authority with a Financial Services Authority Regulation;
c. that based on the considerations referred to in letters a and b, it is necessary to establish a Financial Services Authority Regulation concerning the Guidelines for Daily Disclosure of Net Asset Value of Open-End Mutual Funds;

FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA

COPY

Considering: 1. Law Number 8 of 1995 concerning the Capital Market (State Gazette of the Republic of Indonesia Year 1995 Number 64, Additional State Gazette of the Republic of Indonesia Number 3608);
2. Law Number 21 of 2011 concerning the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2011 Number 111, Additional State Gazette of the Republic of Indonesia Number 5253);

DECIDING:

To Establish: FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING GUIDELINES FOR DAILY DISCLOSURE OF NET ASSET VALUE OF OPEN-END MUTUAL FUNDS.

CHAPTER I

GENERAL PROVISIONS

Article 1

In this Financial Services Authority Regulation, the following terms are defined as:

  1. Money Market Mutual Fund is a Mutual Fund that only invests in:
    a. domestic money market instruments; and/or b. Debt-type Securities that:

    1. are issued with a maturity period of not more than 1 (one) year; and/or
    2. have a remaining maturity of not more than 1 (one) year.

  2. Fixed Income Mutual Fund is a Mutual Fund that invests at least 80% (eighty percent) of its Net Asset Value in the form of Debt-type Securities.

  3. Equity Mutual Fund is a Mutual Fund that invests at least 80% (eighty percent) of its Net Asset Value in the form of Equity-type Securities.

  4. Mixed Mutual Fund is a Mutual Fund that invests in Equity-type Securities, Debt-type Securities, and/or domestic money market instruments, each of which is at most 79% (seventy-nine percent) of the Net Asset Value, wherein the portfolio of such Mutual Fund must contain Equity-type Securities and Debt-type Securities.

CHAPTER II

MANAGEMENT OF MUTUAL FUNDS

First Section

Money Market Mutual Funds

Article 2

Money Market Mutual Funds may only invest in:
a. domestic money market instruments; and/or b. Debt-type Securities that:

  1. are issued with a maturity period of not more than 1 (one) year; and/or
  2. have a remaining maturity of not more than 1 (one) year.

Article 3

Money Market Mutual Funds are prohibited from charging sales fees and repurchase fees for Participation Units.

Second Section

Fixed Income Mutual Funds

Article 4

Fixed Income Mutual Funds must invest at least 80% (eighty percent) of their Net Asset Value in the form of Debt-type Securities.

Third Section

Equity Mutual Funds

Article 5

Equity Mutual Funds must invest at least 80% (eighty percent) of their Net Asset Value in the form of Equity-type Securities.

Fourth Section

Mixed Mutual Funds

Article 6

(1) Mixed Mutual Funds must invest in Equity-type Securities, Debt-type Securities, and/or domestic money market instruments.
(2) Investments in Securities and/or domestic money market instruments as referred to in paragraph (1) are each at most 79% (seventy-nine percent) of the Net Asset Value, wherein the portfolio of such Mutual Fund must contain Equity-type Securities and Debt-type Securities.

CHAPTER III

GUIDELINES FOR DAILY CALCULATION OF NET ASSET VALUE OF OPEN-END MUTUAL FUNDS

Article 7

(1) The Custodian Bank of Open-End Mutual Funds must calculate on every business day:
a. the Net Asset Value of the Mutual Fund per Participation Unit or per share; b. the investment results of the Mutual Fund in the last 30 (thirty) days, calculated in accordance with the legislation in the Capital Market sector regulating Information in the Short Financial Summary of Mutual Funds;
c. the investment results of the Mutual Fund in the last 1 (one) year, calculated in accordance with the legislation in the Capital Market sector regulating Information in the Short Financial Summary of Mutual Funds; and
d. the real investment results in the last 1 (one) year after taking into account sales fees and repurchase fees for Participation Units or shares, calculated in accordance with the legislation in the Capital Market sector regulating Information in the Short Financial Summary of Mutual Funds.

(2) The amount of sales and repurchase fees charged in the calculation as referred to in paragraph (1) letter d is in accordance with what is established in the Collective Investment Contract and the Prospectus.

Article 8

The calculations as referred to in Article 7 must:
a. be submitted to the Financial Services Authority using the format as contained in the Appendix which is an integral part of this Financial Services Authority Regulation, no later than 10:00 AM WIB on the next business day; and b. be disclosed to the public through at least 1 (one) daily newspaper in the Indonesian language with national circulation no later than on the next business day.

CHAPTER IV

SANCTION PROVISIONS

Article 9

(1) Without prejudice to criminal provisions in the Capital Market sector, the Financial Services Authority has the authority to impose administrative sanctions on any party that violates the provisions of this Financial Services Authority Regulation, including parties who cause the violation to occur, in the form of:
a. Written warning; b. Fine, namely the obligation to pay a certain amount of money;
c. Restriction of business activities;
d. Suspension of business activities; e. Revocation of business license; f. Cancellation of approval; and g. Cancellation of registration.

(2) Administrative sanctions as referred to in paragraph (1) letters b, c, d, e, f, or g may be imposed with or without prior imposition of administrative sanctions in the form of a written warning as referred to in paragraph (1) letter a.

(3) Administrative sanctions in the form of a fine as referred to in paragraph (1) letter b may be imposed separately or together with the imposition of administrative sanctions as referred to in paragraph (1) letters c, d, e, f, or g.

Article 10

In addition to administrative sanctions as referred to in Article 9 paragraph (1), the Financial Services Authority may take certain actions against any party that violates the provisions of this Financial Services Authority Regulation.

Article 11

The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 9 paragraph (1) and certain actions as referred to in Article 10 to the public.

CHAPTER V

CLOSING PROVISIONS

Article 12

At the time this Financial Services Authority Regulation takes effect, the Decision of the Chairman of the Capital Market Supervisory Agency and Financial Institutions Number: Kep-516/BL/2012 dated September 21, 2012, concerning Guidelines for Daily Disclosure of Net Asset Value of Open-End Mutual Funds along with Regulation Number IV.C.3 which is its appendix, are repealed and declared invalid.

Article 13

This Financial Services Authority Regulation takes effect on the date of its enactment.

To ensure that everyone knows it, order the enactment of this Financial Services Authority Regulation by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta
On December 23, 2015

CHAIRMAN OF THE COMMISSIONERS COUNCIL
FINANCIAL SERVICES AUTHORITY

signed
MULIAMAN D. HADAD

Enacted in Jakarta
On December 29, 2015

MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA,

signed
YASONNA H. LAOLY

STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2015 NUMBER 398

A copy in accordance with the original
Legal Director 1
Department of Law

signed
Sudarmaji

EXPLANATION

OF

FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 47 /POJK.04/2015

CONCERNING

GUIDELINES FOR DAILY DISCLOSURE OF NET ASSET VALUE OF OPEN-END MUTUAL FUNDS

I. GENERAL

That since December 31, 2012, the functions, duties, and authority for the regulation and supervision of financial services activities in the Capital Market, Insurance, Pension Funds, Financing Institutions, and Other Financial Service Institutions have shifted from the Minister of Finance and the Capital Market Supervisory Agency and Financial Institutions to the Financial Services Authority.

In relation to the above, it is necessary to restructure existing regulations, particularly those related to the Capital Market sector, by converting Bapepam and LK regulations related to the Capital Market sector into Financial Services Authority Regulations. The restructuring is intended to ensure that there are Financial Services Authority Regulations related to the Capital Market sector that are consistent with Financial Services Authority Regulations in other sectors.

Based on the background thinking and aspects mentioned, it is necessary to replace the legislation in the Capital Market sector regulating the Guidelines for Daily Disclosure of Net Asset Value of Open-End Mutual Funds, namely the Decision of the Chairman of Bapepam and LK Number: KEP- 516/BL/2012 dated September 21, 2012, concerning Guidelines for Daily Disclosure of Net Asset Value of Open-End Mutual Funds along with Bapepam and LK Regulation Number IV.C.3 as its appendix, into a Financial Services Authority Regulation concerning Guidelines for Daily Disclosure of Net Asset Value of Open-End Mutual Funds.

II. ARTICLE BY ARTICLE

Article 1

Clear enough.

Article 2

Clear enough.

Article 3

Clear enough.

Article 4

Clear enough.

Article 5

Clear enough.

Article 6

Clear enough.

Article 7

Letter a
Clear enough.

Letter b
At the time this Financial Services Authority Regulation takes effect, the legislation in the Capital Market sector regulating Information in the Short Financial Summary of Mutual Funds that is in effect is Regulation Number VIII.G.9, appendix of the Decision of the Chairman of the Capital Market Supervisory Agency Number KEP-99/PM/1996 dated May 28, 1996 concerning Information in the Short Financial Summary of Mutual Funds.

Letter c
Clear enough.

Letter d
Clear enough.

Article 8

Clear enough.

Article 9

Clear enough.

Article 10

Clear enough.

Article 11

Clear enough.

Article 12

Clear enough.

Article 13

Clear enough.

ADDITIONAL STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 5816

APPENDIX

FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 47 /POJK.04/2015

CONCERNING

GUIDELINES FOR DAILY DISCLOSURE OF NET ASSET VALUE OF OPEN-END MUTUAL FUNDS

FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA

NET ASSET VALUE OF OPEN-END MUTUAL FUNDS

Date: …………………..

NameTypeNet Asset Value per unit (Rp)Investment results in the last 30 days (%)Investment results in the last 1 year (%)Real investment results in the last 1 year (%)

Established in Jakarta on December 23, 2015

CHAIRMAN OF THE COMMISSIONERS COUNCIL
FINANCIAL SERVICES AUTHORITY

signed
MULIAMAN D. HADAD

A copy in accordance with the original
Legal Director 1
Department of Law

signed
Sudarmaji

Read the rest free

Lineage: In force

Capital Market Law, Law No. 8 o…1995Capital Market Law, Law No. 8 of 1995 (Undang-Undang Nomor 8 Tahun 1995 tentang Pasar Modal) (1995-11-10)Undang-Undang Nomor 21 Tahun 20…2011Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan (Law No. 21 of 2011 on the Financial Services Authority) (2011-11-22)Decision No. Kep-516/BL/2012 da…Decision No. Kep-516/BL/2012 dated 2012-09-21POJK Regarding Guidelines forDaily Disclosure of Net Asset…2015-12-29 · this documentPOJK Regarding Guidelines for Daily Disclosure of Net Asset Value of Open-End Mutual Funds (2015-12-29)OJK Regulation No. 2 of 2026 on…2026OJK Regulation No. 2 of 2026 on Exchange-Traded Fund ETFs with Underlying Assets of Gold (2026-02-23)
amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Source: Otoritas Jasa Keuangan (Financial Services Authority) — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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